Associated Banc’s (ASB) “Equal Weight” Rating Reiterated at Stephens

Stephens restated their equal weight rating on shares of Associated Banc (NYSE:ASB) in a research report released on Friday,Benzinga reports. The brokerage currently has a $28.00 price objective on the bank’s stock.

ASB has been the subject of several other research reports. Barclays lifted their price objective on Associated Banc from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. Robert W. Baird decreased their price objective on shares of Associated Banc from $28.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday. Keefe, Bruyette & Woods increased their price target on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “market perform” rating in a report on Friday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $28.00 target price on shares of Associated Banc in a research report on Thursday, December 5th. Finally, Wells Fargo & Company raised their price target on Associated Banc from $24.00 to $26.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $26.67.

Associated Banc Stock Down 1.0 %

ASB stock opened at $25.09 on Friday. The stock has a 50-day simple moving average of $25.22 and a two-hundred day simple moving average of $23.44. Associated Banc has a twelve month low of $19.40 and a twelve month high of $28.18. The firm has a market capitalization of $3.79 billion, a PE ratio of 20.90, a PEG ratio of 2.07 and a beta of 0.94. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.65.

Associated Banc (NYSE:ASB) last posted its earnings results on Thursday, January 23rd. The bank reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. On average, equities analysts predict that Associated Banc will post 2.15 EPS for the current fiscal year.

Associated Banc Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $0.23 dividend. This is a boost from Associated Banc’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.92 annualized dividend and a dividend yield of 3.67%. Associated Banc’s dividend payout ratio (DPR) is currently 76.67%.

Insider Activity at Associated Banc

In related news, EVP David L. Stein sold 29,536 shares of Associated Banc stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $27.43, for a total value of $810,172.48. Following the sale, the executive vice president now owns 81,021 shares in the company, valued at $2,222,406.03. The trade was a 26.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John A. Utz sold 19,044 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $24.19, for a total transaction of $460,674.36. Following the completion of the transaction, the executive vice president now owns 100,204 shares of the company’s stock, valued at $2,423,934.76. This trade represents a 15.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.45% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Associated Banc

Several hedge funds and other institutional investors have recently modified their holdings of ASB. Trust Point Inc. grew its holdings in shares of Associated Banc by 12.5% during the 4th quarter. Trust Point Inc. now owns 46,083 shares of the bank’s stock worth $1,101,000 after acquiring an additional 5,111 shares during the period. Heck Capital Advisors LLC purchased a new stake in shares of Associated Banc in the 4th quarter worth about $343,000. EMC Capital Management lifted its position in Associated Banc by 13,834.5% during the 4th quarter. EMC Capital Management now owns 27,869 shares of the bank’s stock valued at $666,000 after acquiring an additional 27,669 shares during the period. Crews Bank & Trust bought a new stake in Associated Banc during the fourth quarter worth about $56,000. Finally, R Squared Ltd purchased a new stake in Associated Banc in the fourth quarter worth about $67,000. Hedge funds and other institutional investors own 82.98% of the company’s stock.

About Associated Banc

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending and equipment finance, loan syndications products, residential mortgages, home equity loans and lines of credit, personal and installment loans, auto finance and business loans, and business lines of credit.